HSBC Mutual Fund Introduces Multi Asset Allocation Offering
HSBC Mutual Fund has announced the launch of a new fund offering (NFO) for an open-ended scheme focused on multi asset allocation. The fund aims to invest the corpus in equity and equity-related instruments, debt and money market securities and gold/silver ETFs. The NFO will be open for subscription from February 8 to February 22, […]
TCS Hikes Rates on Overseas Tour Packages by 15%
If you are planning to book an overseas tour package from a travel agent, be ready to pay more from October 1, 2023. The government has increased the tax collection at source (TCS) rate from 5% to 20% on such packages, as per the Budget 2023-24. This means that you will have to shell out […]
Vanguard Reduces Ola Cabs’ Valuation by 30%
Ola Cabs, one of India’s leading ride-hailing companies, has faced a significant valuation cut by US asset manager Vanguard, one of its investors. According to a regulatory filing, Vanguard has reduced Ola’s valuation by 30% to under $2 billion, marking its third consecutive markdown in the past year. What does this mean for Ola? Ola […]
World’s First Lab-Grown Jewellery, Solitario, on Burj Khalifa
Solitario, a leading jewellery brand known for its exceptional lab-grown diamonds of superior quality, recently introduced its latest line during a spectacular launch event beneath the gleaming lights of Burj Khalifa in Dubai. The brand is pioneering the lab-grown diamond industry in India and expanding its global presence with the launch of its fourth outpost […]
L&T to Construct Bridge Over Brahmaputra
India’s leading engineering and construction company, Larsen & Toubro (L&T), has secured a large contract to construct the country’s longest road bridge across the river Brahmaputra, connecting Dhubri in Assam to Phulbari in Meghalaya. The project is being financed by the Japan International Cooperation Agency (JICA) and will be executed by L&T Construction, the construction […]
Yamaha’s $40M Investment in E-Scooter Firm River
River, a Bengaluru-based electric scooter startup, has raised $40 million in a Series B funding round led by Yamaha Motor Corp and other investors. The company plans to use the funds to expand its distribution and service network across the country, as well as for research and development of its future products. River’s Indie e-scooter […]
10-Year Jail Term for Leaking UPSC, SSC, Railway Exam Papers
The Public Examinations (Prevention of Unfair Means) Bill, 2024, introduced in the Lok Sabha on Monday, proposes stringent penalties for question paper leaks in exams conducted by UPSC, SSC, Railway and other agencies. The bill aims to bring greater transparency, fairness and credibility to the public examination systems and to reassure the youth that their […]
ED Investigates Paytm and Bank Unit Over Currency Transactions
The Enforcement Directorate (ED), India’s financial crime-fighting agency, is probing if Paytm and its payments bank violated foreign exchange rules, according to two senior government sources. What are the allegations? The sources, who spoke to Reuters on condition of anonymity, did not specify which provisions of the Foreign Exchange Management Act (FEMA) were being investigated. […]
LIC Launches Unit Linked Policy: Index Plus
Life Insurance Corporation of India (LIC), the largest life insurer in the country, has launched a new product called LIC Index Plus, a unit linked, regular premium, individual life insurance plan. The product is available for purchase from February 6, 2024, as per a BSE notification by LIC on February 5. LIC’s Index Plus is […]
TCS’s AI and ML Solutions for Europ Assistance’s IT Model
Europ Assistance, a leading global assistance and travel insurance company, has chosen Tata Consultancy Services (TCS) as its transformation partner to reimagine its IT operating model. The new deal will enable Europ Assistance to enhance its resilience, scalability and user experience with the help of TCS’s artificial intelligence (AI) and machine learning (ML) solutions. TCS’s […]